Atlantic Union Bankshares Co. (NASDAQ:AUB) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $38.3333.

Several brokerages have recently weighed in on AUB. Piper Sandler lowered their target price on Atlantic Union Bankshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Morgan Stanley began coverage on Atlantic Union Bankshares in a report on Wednesday, April 9th. They set an "equal weight" rating and a $32.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Atlantic Union Bankshares from $33.00 to $34.00 and gave the stock a "market perform" rating in a research report on Monday. Jefferies Financial Group set a $37.00 target price on shares of Atlantic Union Bankshares and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Atlantic Union Bankshares in a research note on Wednesday, July 30th.

Insider Activity

In related news, CEO John C. Asbury bought 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average price of $32.91 per share, for a total transaction of $246,825.00. Following the transaction, the chief executive officer directly owned 270,532 shares of the company's stock, valued at approximately $8,903,208.12. This represents a 2.85% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On Atlantic Union Bankshares

A number of institutional investors have recently made changes to their positions in AUB. Atlantic Union Bankshares Corp increased its holdings in shares of Atlantic Union Bankshares by 46.3% during the second quarter. Atlantic Union Bankshares Corp now owns 717,062 shares of the company's stock worth $22,428,000 after buying an additional 227,085 shares in the last quarter. Huntington National Bank increased its holdings in Atlantic Union Bankshares by 71.7% during the 2nd quarter. Huntington National Bank now owns 1,298 shares of the company's stock valued at $41,000 after purchasing an additional 542 shares in the last quarter. Connable Office Inc. bought a new position in Atlantic Union Bankshares in the 2nd quarter valued at $406,000. Bank of New York Mellon Corp boosted its stake in Atlantic Union Bankshares by 27.2% in the second quarter. Bank of New York Mellon Corp now owns 1,490,180 shares of the company's stock worth $46,613,000 after purchasing an additional 318,344 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Atlantic Union Bankshares by 10.7% in the second quarter. Bank of Montreal Can now owns 22,606 shares of the company's stock valued at $707,000 after buying an additional 2,194 shares in the last quarter. 78.58% of the stock is currently owned by institutional investors.

Atlantic Union Bankshares Price Performance

Shares of Atlantic Union Bankshares stock traded down $0.17 on Monday, reaching $31.52. The company's stock had a trading volume of 854,627 shares, compared to its average volume of 1,463,405. Atlantic Union Bankshares has a 52-week low of $22.85 and a 52-week high of $44.54. The company has a market capitalization of $4.49 billion, a P/E ratio of 13.81 and a beta of 0.88. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $31.82 and a 200-day moving average price of $31.79.

Atlantic Union Bankshares (NASDAQ:AUB - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. Atlantic Union Bankshares had a net margin of 15.53% and a return on equity of 8.50%. The business had revenue of $377.22 million during the quarter, compared to analysts' expectations of $369.70 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. The company's quarterly revenue was up 92.0% on a year-over-year basis. Analysts expect that Atlantic Union Bankshares will post 3.26 EPS for the current year.

Atlantic Union Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, August 4th. Atlantic Union Bankshares's dividend payout ratio (DPR) is 66.02%.

About Atlantic Union Bankshares

Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, time deposit, and money market accounts; certificates of deposit; and other depository services.